URBN pushes through key resistance level
Moving higher for the 5th day in a row, URBN finished the week 7.98% higher at 48.28 after gaining $0.74 (1.56%) today on high volume. Today's closing price of 48.28 marks the highest close since Inception. Closing above Thursday's high at 47.67, Urban Outfitters confirms its breakout through the previous session's high having traded $1.27 above it intraday.
Friday's trading range was $1.83 (3.84%), that's above last trading month's daily average range of $1.37. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Breaking through the key resistance level at 48.24 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Urban Outfitters
|Close to R1 Resistance||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
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